MRAA signs deal with First Approval Source for online education


First Approval Source, a provider of consulting and finance and insurance outsourcing to marine dealers, has partnered with the Marine Retailers Association of the Americas to offer finance and insurance education to MRAA members via the association’s interactive virtual training system.

The first of the monthly courses to be offered to MRAA members — Creating F&I Performance Goals — is now live at

In it, First Approval Source COO Myril Shaw discusses the most important F&I benchmark, customer penetration rates for F&I products, the F&I department’s contribution to the bottom line and how to manage F&I expenses.

"First Approval Source is deeply committed to serving the marine retail community through training,” said MRAA vice president Liz Walz in a statement. “We are thrilled to be able to work with Myril and his team to provide our members with a consistent flow of new finance and insurance education.”

The F&I training series has been made available to MRAA members on a complimentary basis because of the support of Norman Spencer Marine Insurance.

“First Approval Source is excited to work with Norman Spencer Marine Insurance and MRAA to provide training and education to the dealer community,” Shaw said. “Together we can help marine retailers build stronger finance and insurance departments, which will translate to bigger bottom lines."


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